Autarky

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Related to autarchic: autarkical

Autarky

Absence of a cross-border trade in models of international trade.

Autarky

Economic self-sufficiency. That is, a country has autarky when it does not need to engage in any sort of international trade. Rather, it produces all of its goods and services within the country. Autarky is rare in the modern world, but some examples include Cambodia under the Khmer Rouge and India prior to 1991. Most analysts see autarky as economically inefficient, though some governments pursue the policy to encourage local industry or more rarely to keep their people from perceived threatening influences. See also: Import Substitution, Embargo, Economic Sanctions, Nonconvertible Currency.
References in periodicals archive ?
65-102) of Rudolf Bahro, the principal advocate of a utopia of autarchic artisan-based communes, as well as of Alvin Toffler and Barry Jones, whose goals, while comparable with mine, would be attained while leaving intact the basic framework of corporate capitalism.
For example, if the Australian government sees the key to the system as the survival of the fittest in a dangerous and anarchical world, then it is likely to adopt policies which optimise military capability, self-reliance and an autarchic economy.
When he considers the rights of addicts to take addictive drugs, Husak's main aim is to show that they are capable of free choice - they are not under pressure great enough to warrant the conclusion that they are compelled to take drugs and, so, are not autarchic.
A symbiosis of local bureaucracy, entrepreneurs, workers' collectives and political leaders emerges and leads to the establishment of a semi-planned, highly corrupt and inefficient economic order in autarchic regions.
As Barnett Rubin notes astutely, "Tribalism in the modern world is more often a strategy of state control or social resistance than the culture of an autarchic, kinship-based world that no longer exists, if it ever did.
Second, the autarchic development of the producer goods sector was a viable source of new capital equipment.
This article showed that the benefits of purchasing an individual annuity contract were smaller for married individuals, or more generally those in an extended family, than for autarchic individuals.
He has not made them autarchic, but he has made it possible for them to shape and direct their future.
It will be a mistake to consider these villages as isolated, self-centred and autarchic communities, lacking an internal dynamic and without the possibility of tackling external transformations.
Peace, as such, does not prevail so much as an autarchic equilibrium rules.
As autarchic societies are extremely rare, most must create a distinction between governors and the governed if they hope to defend themselves against external enemies.
Economically, the country's pace toward a more modern phase of industrialization quickened, due to the regime's focus on corporativist legislation, autarchic policies, and technological advances.